Progyny (NASDAQ:PGNY) Issues FY24 Earnings Guidance

Progyny (NASDAQ:PGNY) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $0.68 to $0.75 for the period, compared to the consensus earnings per share estimate of $0.70. The company issued revenue guidance of $1.23 billion to $1.27 billion, compared to the consensus revenue estimate of $1.30 billion. Progyny also updated its Q2 guidance to $0.16 to $0.18 EPS.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PGNY. SVB Leerink initiated coverage on Progyny in a report on Monday, February 26th. They issued an outperform rating and a $49.00 target price on the stock. Truist Financial restated a buy rating and set a $46.00 target price on shares of Progyny in a research report on Wednesday, April 17th. KeyCorp decreased their price target on shares of Progyny from $45.00 to $43.00 and set an overweight rating on the stock in a research report on Wednesday, February 28th. Cantor Fitzgerald reissued an overweight rating and set a $48.00 price objective on shares of Progyny in a research report on Wednesday, February 28th. Finally, Leerink Partnrs reaffirmed an outperform rating on shares of Progyny in a report on Monday, February 26th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Progyny currently has an average rating of Buy and an average price target of $48.30.

Progyny Trading Up 1.1 %

Shares of PGNY stock traded up $0.34 on Thursday, reaching $32.50. The company’s stock had a trading volume of 1,424,296 shares, compared to its average volume of 798,838. The stock’s fifty day simple moving average is $34.75 and its 200-day simple moving average is $35.61. Progyny has a 1 year low of $29.44 and a 1 year high of $44.95. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 51.87, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The firm had revenue of $269.94 million for the quarter, compared to analysts’ expectations of $274.08 million. During the same period in the prior year, the company earned $0.03 EPS. The business’s revenue was up 26.0% compared to the same quarter last year. Equities research analysts forecast that Progyny will post 0.7 earnings per share for the current year.

Insider Transactions at Progyny

In other Progyny news, Chairman David J. Schlanger sold 2,597 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $37.65, for a total value of $97,777.05. Following the transaction, the chairman now directly owns 86,312 shares in the company, valued at approximately $3,249,646.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman David J. Schlanger sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $37.52, for a total value of $37,520.00. Following the completion of the sale, the chairman now owns 83,631 shares in the company, valued at approximately $3,137,835.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman David J. Schlanger sold 2,597 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $37.65, for a total transaction of $97,777.05. Following the transaction, the chairman now owns 86,312 shares in the company, valued at $3,249,646.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,770 shares of company stock worth $3,853,985. 12.30% of the stock is currently owned by company insiders.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.